Henri Fayol Identified Five Management Functions: Planning, Organizing, Commanding, Coordinating

question 115

True/False

Henri Fayol identified five management functions: planning, organizing, commanding, coordinating, and controlling.

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Definitions:

Advantages and Disadvantages

The beneficial and unfavorable aspects or outcomes of a decision, action, or situation.

Wage-Rate Compression

A situation where differences in wages among employees narrow, often leading to less distinction in pay between higher and lower-level jobs.

Compensation Difference

The variation in pay and benefits among employees, which can be due to factors like experience, education, job function, or performance.

Job Evaluation Systems

Formal processes and criteria used by organizations to determine the relative value and complexity of jobs within the organization to establish fair compensation.